Home Forex Markets The momentum of the Hang Seng Index (HSI) is weakening, further corrections barely stabilized at 19,000

The momentum of the Hang Seng Index (HSI) is weakening, further corrections barely stabilized at 19,000

by WOOWinvest
0 comment
The momentum of the Hang Seng Index (HSI) is weakening, further corrections barely stabilized at 19,000

The US stock market continued to be weak, coupled with the impact of the Bank of Japan’s unexpected actions, the Hang Seng Index (HSI) fell further on Tuesday. Technically, the upward momentum of the Hang Seng Index is weakening, but the dense support below may limit the room for falling.

The Hang Seng Index (HSI) fluctuated and fell 1.33%

Overnight data showed that the NAHB housing market index in the United States recorded 31 in December, the lowest since April 2020. The performance of the U.S. stock market remained weak on Monday, and the three major indexes continued to decline-the S&P 500 index closed down 0.9% on Monday, the Dow Jones index fell 0.49%, and the Nasdaq index fell 1.49%.

On Tuesday, the Bank of Japan decided to raise the upper limit of the 10-year government bond yield to 0.5%, which caused a sensation in the foreign exchange market. At the same time, this incident hit the Japanese stock market hard, bringing spillover effects and leading to a cooling of risk appetite in the global market. The US stock index futures and the Hang Seng Index were both significantly impacted at that time.

Hong Kong’s Hang Seng Index (HSI) was under pressure on Tuesday. It fell 1.01% at the opening and then went into shock. It fell as much as 2.42% in the session. It narrowed the decline to 0.36% in the session, and closed down 1.33% to 19094.8 points. The Hang Seng Technology Index closed down 3.12% on Tuesday. On December 20, the net outflow of funds from the Hong Kong stock market through Hong Kong Stock Connect was 138 million yuan, and the net sale was 2.073 billion yuan.

The Hang Seng Index successfully broke through the downward trend line since June last year, and began to try to break through 20,000 points! How to grasp the breakthrough opportunity? Download “Breakout Trading Strategy Guide”👇👇👇

On Tuesday, 16 stocks in the Hang Seng Index rose, 59 fell and 1 was flat. The top three constituent stocks with the best performance and their gains were: Orient Overseas International rose 3.77%; ENN Energy rose 1.9%; Cheung Kong rose 1.73%. The top three constituent stocks with the worst performance and their declines were: Country Garden fell 8.81%; Country Garden Services fell 7.83%; Longfor Group fell 6.64%. The main heavyweights performed as follows: Tencent Holdings fell 3.43%; Alibaba fell 3.45%; China Construction Bank fell 0.65%.

Hang Seng Index (HSI) trend technical analysis

The daily chart shows that the Hang Seng Index (HSI) once fell below the support of 19200 and 19000 during the day, but rebounded with support around the 20-day moving average of 18870, barely closing above the 19000 mark. In the short term, pay attention to whether the Hang Seng Index can rebound back above 19200. If it can, it is expected to resume its strength.

However, the RSI indicator shows that the upward momentum is weakening, suggesting that there is a risk of a callback in Hang Seng, but there is not much room for decline for the time being, because the upward trend line from November to the 18600-19000 area may provide denser support. (Follow the author on Twitter @Legen_DailyFX )

The momentum of the Hang Seng Index (HSI) is weakening, further corrections barely stabilized at 19,000

Why are successful traders so rare? What valuable qualities do they possess, and what winning principles do they follow? How to become a successful trader? Click to download “Successful Trader’s Handbook”👇👇👇

The content on this web page is general market commentary only and may not constitute investment advice of any kind (tax, legal, accounting). This article does not constitute a direct investment invitation or recommendation for specific financial products. The content is for reference only. Readers should not rely on the information herein, nor should their actions or omissions be relied upon. We are not responsible for the results of any person’s actions or omissions based on this article. We make no warranties as to the accuracy of the content or suitability of the information provided. This article is not intended to be disseminated within the territory of the People’s Republic of China (excluding Hong Kong, Macau and Taiwan for that matter), except as permitted by the applicable laws of the People’s Republic of China.

Copyright statement: Unless it is for browsing the information on this website, or in accordance with the applicable laws or the terms and conditions, without our specific written permission, no one may copy, usurp, upload, link, or publicly demonstrate to a third party in any way , distribute or transmit any information or content on this website. For unauthorized reprinting of infringements, we reserve the right to further pursue the legal responsibility of the relevant actors. If you have business cooperation needs such as marketing, resource exchange, etc., please contact us.

element inside the element. This is probably not what you meant to do! Load your application’s JavaScript bundle inside the element instead.

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News


Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy